Coffee Prices Continue to Surge Due to Strong Exports
- Monday - 01/07/2024 11:14
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(News Portal – Dong Nai) - Recently, coffee prices have continuously set new records. Currently, coffee prices in the market range from 120,500 to 121,600 VND/kg, nearly three times higher than during previous low-price periods in past years.
A farmer is harvesting coffee in Thong Nhat District
The domestic coffee price rise is influenced by the export market. According to data from the General Department of Customs, as of mid-June 2024, Vietnam's coffee exports have reached an impressive amount of over 3 billion USD, a 38% increase in value compared to the same period last year. Although the export volume decreased by 8%, totaling more than 862.4 thousand tons, the value surged due to the relentless rise in international coffee prices. Specifically, the average export price of coffee in May 2024 reached 4,275 USD/ton, up 14% from April 2024 and a 66% increase compared to May 2023.